Progressive Care Inc (RXMD)

[MastaBeta]

April numbers out, YOY sales down 12 %.

Reason given was healthcare practices shutdown for electives, impacting intermittent prescriptions/OTC sales. All that tells me is May and June numbers will spike bigly as things open back up and doctors push to make up time on postponed procedures.

I work at a company, in Florida as a matter of fact, that manufactures joint replacement parts. Our numbers dropped 80% for April due to postponed surgeries where a majority of hospitals were not scheduling elective procedures. So far our May numbers are averaging 50% above our adjusted planned sales for the month. At this rate, by June we could be at our pre-COVID sales numbers even though the company prepared for being below plan all the way to October.

I see RXMD being impacted similarly and following a similar recovery trajectory. Especially since they have managed to gain new patients during all this as well.